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Lease

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased.

Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments.The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree that the car will only be used for personal use.

The narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let or rented out by the owner. The verb to lease is less precise because it can refer to either of these actions. Examples of a lease for intangible property are use of a computer program (similar to a license, but with different provisions), or use of a radio frequency (such as a contract with a cell-phone provider).

Lease

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased.

Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments.The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree that the car will only be used for personal use.

The narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let or rented out by the owner. The verb to lease is less precise because it can refer to either of these actions. Examples of a lease for intangible property are use of a computer program (similar to a license, but with different provisions), or use of a radio frequency (such as a contract with a cell-phone provider).

The ElizabethtownCity Council unanimously voted Monday to approve a lease agreement with the Elizabethtown Tourism and ConventionBureau for the Elizabethtown SportsPark. The lease agreement will become effective and extend for a five-year term from the date a professional management company, as selected by the tourism bureau, takes occupancy of the sports park....

The Foreign Correspondents' Club, Hong Kong building is under a seven-year lease up to January 2023 ... Cheung said that the FCC building is under a seven-year lease up to January 2023 ... Some Beijing loyalist lawmakers demanded early today that the government consider terminating the club's lease....

This was done through a process known as integration, which allows a company to take natural gas belonging to landowners who have not leased their mineral rights through a process known as forced pooling or deemed leasing... “We plan to ask the Department of Lands and the Legislature to adopt new laws that will protect private property before any more oil and gas leases are forced on Idahoans,” Piotrowski said....

Danielle Cittadino, 44, of Baldwin, said she thought she was financing her golden retriever, but she unknowingly leased the dog in 2016. How much is that doggie in the window? If you opt into a pet leasing agreement, that pup could cost nearly twice as much as what you’d pay upfront, animal rights advocates say....

New York City-based WeWork has doubled the size of its lease in the new MoZaic East office building nearing completion in Minneapolis’ Uptown neighborhood ... WeWork initially leased 46,000 square feet late last year, but the company will occupy 102,000 square feet, or 52 percent of the building ... The company also leases 53,000 square feet of space on the 38th, 39th and 40th floors of the Capella Tower at 225 S....

In March, the commission voted unanimously to lease the western part of the building’s third floor for its Planning and DevelopmentDepartment and Municipal Court, which are both currently housed in leased space. The court is located on New HampshireStreet, and the development division is housed in leased space elsewhere in Riverfront....

Some urged the government to consider terminating the FCC's lease of its premises in Central, while another called for the club to be banned ... The pair said in light of the talk, the government should now review the club's lease, or even consider terminating it early ... We are now pushing the government to review their policy and the lease to them,'' Leung said....

Victoria College and city of Gonzales officials have agreed on a lease of the Gonzales Center after a 17-month negotiation process. The agreement, which continues a five-year lease with a $1 annual rent, was approved by the college’s Board of Trustees at Monday’s special meeting ... The previous five-year lease expired in March 2017 but was extended by the city to July 1....

The Nagpur bench of Bombay high court has stayed renewal and grant of new lease for stone quarries after a Gondia-based businessman approached the court claiming that the leases were not being given through auction process ... Adv Shreerang Bhandarkar, who appeared for petitioner Navendrasingh Parmar, said, “My client’s lease was not renewed and last October the respondents told him that it was because a new policy was being mulled....